United Services Automobile Association Has $5.61 Million Position in The Coca-Cola Company (NYSE:KO)

United Services Automobile Association cut its position in shares of The Coca-Cola Company (NYSE:KO) by 74.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 90,120 shares of the company’s stock after selling 255,887 shares during the quarter. United Services Automobile Association’s holdings in Coca-Cola were worth $5,611,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of KO. Rice Partnership LLC raised its holdings in shares of Coca-Cola by 7.1% in the fourth quarter. Rice Partnership LLC now owns 102,746 shares of the company’s stock valued at $6,397,000 after purchasing an additional 6,793 shares during the last quarter. Fiduciary Alliance LLC increased its stake in Coca-Cola by 87.7% in the 4th quarter. Fiduciary Alliance LLC now owns 18,189 shares of the company’s stock valued at $1,132,000 after buying an additional 8,499 shares during the last quarter. Wellington Management Group LLP increased its stake in Coca-Cola by 14.5% in the 3rd quarter. Wellington Management Group LLP now owns 31,615,428 shares of the company’s stock valued at $2,271,885,000 after buying an additional 4,013,996 shares during the last quarter. Clark & Stuart Inc bought a new stake in Coca-Cola during the 4th quarter worth about $1,582,000. Finally, Wilmington Savings Fund Society FSB grew its holdings in shares of Coca-Cola by 222.9% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 192,237 shares of the company’s stock valued at $13,814,000 after acquiring an additional 132,701 shares in the last quarter. Institutional investors own 70.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on KO. TD Cowen raised Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Wednesday, January 8th. Evercore ISI boosted their target price on shares of Coca-Cola from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Piper Sandler increased their price target on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Morgan Stanley boosted their price objective on shares of Coca-Cola from $76.00 to $78.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Finally, Barclays raised their target price on shares of Coca-Cola from $66.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $74.24.

Coca-Cola Trading Down 1.6 %

KO stock opened at $68.58 on Monday. The Coca-Cola Company has a 52 week low of $57.93 and a 52 week high of $73.53. The company has a market capitalization of $295.12 billion, a PE ratio of 27.76, a price-to-earnings-growth ratio of 3.79 and a beta of 0.57. The company’s 50-day simple moving average is $67.00 and its 200 day simple moving average is $66.43. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.84 and a current ratio of 1.03.

Coca-Cola (NYSE:KO) last announced its earnings results on Tuesday, February 11th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. As a group, sell-side analysts anticipate that The Coca-Cola Company will post 2.96 earnings per share for the current year.

Coca-Cola Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Friday, March 14th. This is a positive change from Coca-Cola’s previous quarterly dividend of $0.49. Coca-Cola’s dividend payout ratio (DPR) is 82.59%.

Insider Activity

In other news, COO Henrique Braun sold 25,277 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $71.47, for a total transaction of $1,806,547.19. Following the completion of the sale, the chief operating officer now owns 52,466 shares of the company’s stock, valued at approximately $3,749,745.02. This represents a 32.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO James Quincey sold 145,435 shares of Coca-Cola stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $71.01, for a total transaction of $10,327,339.35. Following the completion of the transaction, the chief executive officer now directly owns 342,546 shares in the company, valued at $24,324,191.46. This trade represents a 29.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 313,423 shares of company stock worth $22,263,071. 0.97% of the stock is currently owned by company insiders.

Coca-Cola Company Profile

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.